NewCo
{{Short description|Temporary name for a company}}
A NewCo or Newco is a term used to describe a corporate spin-off, startup, or subsidiary company before they are assigned a final name, or to proposed merged companies to distinguish the to-be-formed combined entity with an existing company involved in the merger which may have the same (or a similar) name. In a handful of cases the new company may retain the name "Newco".{{Cite web |date=2010-10-19 |title=Oldco/Newco and the Transfer of Company Ownership |url=https://www.psfinc.com/articles/oldco-newco/ |access-date=2022-06-18 |website=Parker, Smith & Feek – Business Insurance {{!}} Employee Benefits {{!}} Surety |language=en}}
The term can also be used to describe a company that was created to replace its predecessor, which ceased to exist for reasons such as financial issues: the creation of a NewCo to continue the existence of Rangers F.C. was a notable example.{{cite news|url=https://www.bbc.co.uk/sport/0/football/18703183|title=Rangers newco refused SPL entry after chairmen vote|work=BBC Sport|date=4 July 2012|access-date=20 December 2012|quote=BBC Scotland has learned that 10 of the 12 clubs were in opposition, with Kilmarnock abstaining and Rangers voting in favour.|archive-url=https://web.archive.org/web/20121114102205/http://www.bbc.co.uk/sport/0/football/18703183|archive-date=14 November 2012|url-status=live}}
Examples
- IBM GTS - Managed Infrastructure Services → Kyndryl{{Cite web |title=Kyndryl is IBM's wacky new name for its dry IT spinoff |author=Chaim Gartenberg |work=The Verge |date=12 April 2021 |access-date=11 May 2022 |url= https://www.theverge.com/tldr/2021/4/12/22380114/kyndryl-ibm-it-spinoff-name-infrastructure-branding}}
- 3M’s data storage business (spun off in 1996) → Imation
- Abbott Laboratories pharmaceutical division → AbbVie
- Atlas Copco Mining and Rock Excavation Technique business area → Epiroc{{Cite web|url=https://www.atlascopcogroup.com/en/investor-relations/all-information-epiroc-split|title=All information on Epiroc split from Atlas Copco|last=Copco|first=Atlas|website=Atlas Copco|language=en|access-date=2019-03-15}}
- AT&T computer hardware subsidiary → NCR
- Bayer chemicals operations → Lanxess
- BP petrochemicals group → Innovene
- Ford Motor Company vehicle components division → Visteon
- Hewlett-Packard instrumentation division → Agilent Technologies
- Karstadt merging with Quelle → Arcandor
- Northwest Airlines regional operations → Compass Airlines
- Merged entity of NBC Universal and Comcast programming assets → NBCUniversal
- RAG AG (Degussa, Steag, Immobilien) → Evonik Industries
- The Rangers Football Club plc (liquidated in 2012) → Sevco Scotland Ltd (later renamed The Rangers Football Club Ltd){{cite web |url=http://spfl.co.uk/news/article/commission-decision-2013-02-28/mediaassets/doc/Commission%20Decision%2028%2002%202013.pdf |title=Lord Nimmo Smith Commission|publisher=Scottish Professional Football League|date=28 February 2013|quote=On 14 June 2012 a newly incorporated company, Sevco Scotland Limited, purchased substantially all the business and assets of Oldco, including Rangers FC, by entering into an asset sale and purchase agreement with the joint administrators.|access-date=25 November 2014 |archive-url=https://web.archive.org/web/20141219023336/http://spfl.co.uk/news/article/commission-decision-2013-02-28/mediaassets/doc/Commission%20Decision%2028%2002%202013.pdf |archive-date=19 December 2014}}
- Siemens semiconductor subsidiary → Infineon
- Barnes & Noble Nook's subsidiary → Nook Media{{Citation
| last = Indvik
| first = Lauren
| url = http://mashable.com/2012/10/04/nook-media/
| title = Microsoft and B&N Name Joint Venture: Nook Media
| publisher = Mashable
| date = 4 October 2012
| accessdate = 8 November 2014}}
- DaimlerChrysler MTU Friedrichshafen division → Tognum (later acquired by Rolls-Royce plc and now the Rolls-Royce Power Systems subsidiary)
- Merged entity of T-Mobile USA and MetroPCS → corporate name of T-Mobile US; kept both T-Mobile and MetroPCS (later modified to Metro by T-Mobile) brands{{cite web |url=http://newsroom.t-mobile.com/news/t-mobile-and-metropcs-combination-complete--wireless-revolution-just-beginning.htm |title=T-Mobile and MetroPCS Combination Complete - Wireless Revolution Just Beginning |date=1 May 2013 |location=Bonn, Germany and Bellevue, Washington |accessdate=2014-09-30 |archiveurl=https://web.archive.org/web/20141006072708/http://newsroom.t-mobile.com/news/t-mobile-and-metropcs-combination-complete--wireless-revolution-just-beginning.htm |archivedate=2014-10-06}}
- Fortive precision technology companies → TBD{{Cite press release |date=4 September 2024 |title=Fortive Announces Strategic Plans for Separation Into Two Independent Public Companies |url=https://investors.fortive.com/news-events/press-releases/detail/242/fortive-announces-strategic-plans-for-separation-into-two-independent-public-companies |access-date=27 December 2024 |website=Fortive Investor Relations |publisher=Fortive Corporation}}
See also
- Advent corporation (placeholder)
- {{section link|Placeholder name|Companies and organizations}}
References
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{{cite web |title=Konzern investiert Millionen - Die Kunst der Erneuerung |author-first=Catrin |author-last=Bialek |date=2007-09-12 |publisher=Handelsblatt |language=de |url=https://www.handelsblatt.com/unternehmen/handel-konsumgueter/konzern-investiert-millionen-die-kunst-der-erneuerung/2860120.html?ticket=ST-28554227-4JezWc3CNZUev7n2UqY3-ap2 |access-date=2019-11-24}}
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{{Use dmy dates|date=March 2025}}
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